Nigerian manager calls on MBA students: “Take part in shaping Africa, the world’s fastest growing continent!”
MBA News Barbara Barkhausen / 12-05-2010
Tony Elumelu’s story is certainly inspiring. The African business man is the CEO of UBA, the United Bank for Africa, and is acknowledged as one of Africa’s most influential business leaders. He re-shaped the African financial services industry. He transformed UBA, a Nigerian bank, into a global institution - now operating in 18 African countries and across three continents.
During the 18th Wharton Africa Business Forum (WABF) Elumelu spoke to African MBA students in America sharing insights on doing business in Africa and urging them to take part in shaping Africa, the world's fastest growing continent. "If I had left the shores of Nigeria, I would not be what I am today and I may not have been in a position to take advantage of the boundless opportunities in Africa," Elumelu said during the forum, hosted by the renowned Wharton Business School in Philadelphia.
His statements are supported by data from Economy Watch that placed several African countries high on its list of the fastest growers in 2010: Botswana ranked second with 14.4 % growth, Congo-Brazzaville in fourth with 11.9 %, Angola in fifth with 9.3 % and Liberia in seventh with 7.53 % growth.
Elumelu encouraged students to rise and take the opportunities now available in Africa. Other lessons shared included the need to consistently adapt vision and goals to align with strategy, the importance of brand building and the deployment of African solutions. "I want to spend my time, my resources, and my experience building a legacy for Africa," Elumelu concluded his inspirational performance.
Sources: www.worldstagegroup.com, media release United Bank for Africa, Economy Watch
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Wharton School of the University of Pennsylvania
Full-Time MBA, Executive MBA
I completely agree with the huge opportunities in Africa not out of personal experience but from my research for a paper that I wrote in the International Business class at the University of Alberta. My paper was on the Bharti Airtel acquisition in Africe and I was pleasantly surprised to see the “frugal innovation” in Africa and the opportunities in terms of a large working age population. It is not surprising to see Chinese and Indian companies diversifying into Africa, but I hope that they are not only there for the resources but also in developing Africa.